18-Unit Apartment
2131 NE 41st St, Lighthouse Point, FL 33064
For Sale
$3,960,000
Furnished units currently operate as short-term vacation rentals, with the option to return to conventional apartment use.
Property Size11,971 SF
Lot Size0.41 Acres
Price / SF$330.55
Days on Market20
Property Features for 2131 NE 41st St
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Financials
Asking Price
Cap Rate
Units
Unit Mix
Multifamily Units
Additional Details
Highway Access
Currently Operating
Amenities
on-site laundry facilities
central air conditioning
paved asphalt parking
Rare Opportunity: 18-Unit Apartment Building Located in Affluent Lighthouse Point
$119,412 Avg Household Income in 1-Mile and 13% Population Growth since 2010
1975 CBS Construction, 17,990sf Lot, Electric Appliances, Central Air Conditioning
(18) Furnished One-Bedroom | One-Bathroom Apartments averaging 665 Square Feet
Flexible Opportunity: Licensed as Vacation Rentals or Convert back to Multifamily
Walking Distance to Starbucks and Publix-Anchored Venetian Isles Shopping Center
Proximate to US-1 (Federal Highway), Sample Road, Hillsboro Blvd, Deerfield Beach
Existing Property Management may consider staying Post-Closing (contact Listing Agent)
Building Details
Building Size
Year Built
Buildings
Stories
Units
Construction
Listing Agency:
Fort Lauderdale Office
Listed By:
Ethan Krauss · License #License(s): FL: SL3552519
(954) 245-3503
Source:
Marcusmillichap
Added: Oct 19
Changed: Nov 6
Last Checked: Nov 6 at 3:34PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Fort Lauderdale Office
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Coco Palms is an 18-unit apartment property in Lighthouse Point, Florida, with 11,980 square feet of building area on a 17,990-square-foot lot (0.41 acres). The two-story concrete-block building dates to 1975 and has a stucco exterior and flat roof. Each unit is a one-bedroom, one-bathroom layout averaging 661 square feet. On-site features include laundry, central air conditioning, and paved asphalt parking. The property is zoned RM-25 and is currently operated as furnished short-term vacation rentals; the units may also be returned to traditional apartment rentals.
The property at 2131 NE 41st St has access to US-1 (Federal Highway) and Sample Road. Venetian Isles Shopping Center and Starbucks are each 0.5 miles away, while North Broward Park is 1.1 miles from the property. Other nearby destinations include Pompano Pointe Shopping Center, 1.6 miles away, and Pompano Citi Centre, 2.1 miles away.
The property at 2131 NE 41st St has access to US-1 (Federal Highway) and Sample Road. Venetian Isles Shopping Center and Starbucks are each 0.5 miles away, while North Broward Park is 1.1 miles from the property. Other nearby destinations include Pompano Pointe Shopping Center, 1.6 miles away, and Pompano Citi Centre, 2.1 miles away.
Key Highlights
- 18 units, each with one bedroom and one bathroom; average unit size is 661 square feet
- 11,980‑square‑foot building on a 17,990‑square‑foot lot (0.41 acres)
- Two‑story concrete‑block construction, built in 1975; stucco exterior and flat roof
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$184,244
Cap Rate
4.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,684,880
$3.7M
Cap Rate 7%
$2,632,057
$2.6M
Cap Rate 9%
$2,047,156
$2.0M
Market Conditions
NOI Build-Up for 11,980 SF
Gross rent
$350.8K $29.28/SF
− Vacancy
−$15.8K −$1.32/SF
EGI
$335.0K $27.96/SF
− OpEx
−$150.7K −$12.58/SF
NOI
$184.2K $15.38/SF
Area
Broward County, FL
Vacancy
4.50%
Lease Rate
$29.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,684,880
Cap Rate 7%
$2,632,057
Cap Rate 9%
$2,047,156
Alternative Uses
Best Use
Apartment 5plus
$2.63M
$2.30M – $3.07M
NOI $184,244 @ 7.0% cap · market cap 4.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.08M
$5.32M – $7.09M
NOI $425,457 @ 7.0% cap · market cap 10.74%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
18
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,715
Businesses Nearby
Explore this area
Business Placement
Demographics for 33064, FL
62,429
Population
26,641
Households
2.3
Avg Household Size
39
Median Age
29%
College-Educated
82%
High-School Grad
10.2 sq mi
ZIP Area
6,120
Density / Sq Mi
$66,269
Median Household Income
$35,090
Median Earnings
$1,689
Median Rent
$293,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Apartment buildings in Broward County, FL
Properties on Market for Apartment buildings in Broward County
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Furnished units currently operate as short-term vacation rentals, with the option to return to conventional apartment use.
Where is this apartment building located?
The property is located at 2131 NE 41st St Lighthouse Point, FL.
What is the asking price?
The asking price for this property is $3,960,000.
What are key features of this property?
This property features: 18 units, each with one bedroom and one bathroom; average unit size is 661 square feet; 11,980‑square‑foot building on a 17,990‑square‑foot lot (0.41 acres); Two‑story concrete‑block construction, built in 1975; stucco exterior and flat roof
